Price vs Value

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Smitty37

Passed Away Mar 29, 2018
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In a recent post in another thread someone mentioned value of kits and blanks - another poster said "I'm glad you said value and not price paid..."

That got me to wondering - how do you perceive value as related to components/blanks/etc.? Do you relate it to price paid? To Service received? Or do you have some other perception?

Please don't mention specific vendors in your responses, just what you think "value" consists of.
 
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You me the thread I started :cool:

I think it depends on the type of blank you buy. If you buy a $12 worthless wood blank the value is easily related to the price. If you buy a $2-$10 wood blank (even burl) it could look fantastic or be plain and boring, the perceived value can't really be determined until after turning.

AK
 
But what you buy, you buy before turning......I'm asking how your perceive value of the items you buy? Do you decide after you turn it whether it was worth the price you paid?
 
Being new to turning, I have a lot of blanks both resin types and wood plus some other material. I haven't turned a pen yet, just made some scrap and very fine shavings, play with the lathe and tools. As in the last thread I started I was wondering about the price of the casein blanks now being offered in a catalog vendor.

For the material and work involved in making, the cost of the blank seems fair. Even adding in the sellers profit, It seems to be a good valve/price to me. I may not get anything useable out of the product other than an education, but that is of value to me.

I have made clown props and magic on the manufacturing level along with doll house items and cage bird toys.

People do have some strange ideas on an item and its perceived value, and then its price. Most have no clue as what goes in to making a product. Let alone think about The R&D involved.
It use to make me smile at people when I did the clown/magic conventions.

First they talk about you and the product, on their side of the both like I can't hear them on my side of a standard table, It would startle them when I would say something, in answer to something said by the person with them.

Yes I would say you can make any of the items I sell! But the thing you have to remember is I can make it cheaper than you can assemble all the materials, tools to make it. And don't count on that person ever having time to show you how it is done. You have my number I will answer most questions other than then really hard one trade secrets.

I can sell you the hostess style cup cake for $4.95. I can tell you that between the foam, dye, caulking and the colorant for the caulking, plus an electric carving knife not counting the times till you get it right you can spend around $100 bucks. Had a customer tell me that when she bought 2 of the cup cakes and paid shipping!:wink:

So the value of something can be far greater than the cost of an item.

As Ed said in another thread " I can do that", and I do and have on most occasions. So I do look at value and cost/price differently.

:clown:
 
Then my perceived value is what I've spent on the blank (as I've agreed to the price), normally you get what you pay for, sometimes it's awesome and sometimes it's a dud.

AK
 
Smitty, I consider the value, both perceived and actual value on pen components and blanks by the Quality of the parts. the way a blank finishes, has air pin holes or is over catalyzed, or if the blank is wood, by the rarity, and again the quality. Don't get me wrong, I expect to wind up with some imperfections in burls and such, but mainly, to me Quality is the main criteria in value, both perceived and factual. things like nibs extending through the holes with out me having to drill them out, things like smooth transmissions, that last at least until the customer has lost the pen, Inks that don't bleed all over paper.
 
I just finished a show and had a fella buy a $395 pen. He looked at another that I had priced at $425 and said that it was priced reasonable. He almost bought it also. The easiest way for anything to be priced at its percieved value is for you the maker to believe it is and present that as you are trying to sell it.

Would you feel comfortable pricing the pens the same if you had a $15 blank as compared to a $50 blank even though they looks similar?
 
I'm asking about the perceived value of what you buy to make your pens with - not the completed pens. That's a different subject.
firewhatfire said:
I just finished a show and had a fella buy a $395 pen. He looked at another that I had priced at $425 and said that it was priced reasonable. He almost bought it also. The easiest way for anything to be priced at its percieved value is for you the maker to believe it is and present that as you are trying to sell it.

Would you feel comfortable pricing the pens the same if you had a $15 blank as compared to a $50 blank even though they looks similar?
Click to expand...
 
I was asked to make a pen for the birthday of a old surgeon friend, he didn't know I made it. EB kit and hand poured blank, kind of a coffee swirl thing. He was totally impressed that there was no other blank like his in the world. I put $80 in my pocket and to him...it's priceless. $15 in parts and effort...but I toss my casting time into the educational category. I asked my friend after the fact what she would have paid..."To see the look on his face and watching him use it everyday...a lot more!" Perceptions are a lie, what you can hold in your hand...that's good.
At the same time, we've all heard the "I wouldn't pay that for a pen!" stuff. I'm so tempted to by a bag of Bic's to hand out:rolleyes:
 
Customer Service is great but overall it is who has what I need(in stock) when I need it. If its a company I have had great customer service from I will order it from them. Its what you do with blanks after you buy it. Is it going on a just a slimline pen or is it being scalloped and segmented. Components are more along the lines of quality(my opinion). Not all Cigar kits are the same and if a pen is to given to a kid as a gift, I may use a lesser quality kit. But if its going to be for sale, I want to make sure I use the best available.
 
1. Looks, shape, size.
2. Quality
3. Versatility (capacity to customize)
4. Transmission on twist pens.

The first thing I value is the component's looks and shape, then size. If I don't like the looks or shape or sizing, I don't even consider it - unless someone names a particular pen that I don't usually make or order.

IF I do like the esthetics of a particular pen, I next look at the quality. If it does not have perceived quality, I probably will not buy it. IF it does have a reputation of quality, then I will buy it. On new pens, I usually buy one or two and check them out. I don't like thin plated gold that will wear off quickly. I prefer TI Gold over some of the thin gold platings. I really like silver.

Some pens components/kits - you (at least some of you, including me) can spot quality components vs cheap ones. I don't like cheap looking ones.

I like versatility in pens but this is not a deal breaker per se, unless I specifically want to make a semi-kitless pen.

Those are what determine value to me and for which I judge if the price is worth it.
 
Im pretty new here so I dont have a lot of exp with the price and value of things yet but I try to look at it as what do I think and what would others think something is worth. Ive seen blanks for sale that are 4-5 dollar range and others in the 20+ range and if I didnt see the price with them lot of the times I would perceive the 4-5 dollar one being more valuble but I dont know the cost of diff materials and rarity of them. Same with kits I try to look at them and decide what I think they are worth before looking at the price attached to them. I liked the look of the majestic kits until I seen the cubic zirconia on the clip as soon as i seen my thought on their value went away I think of cz as fake and good for plastic toy jewelery. I know that for some plating is big factor so I did a little research about that and think mostly thats a way for manufacturers to help sell them for higher price and for people that sell the pens but in reality the amount of rhodium or gold or any other plating is so small that the brass tubes weight is pry more valuble then the gold or rhodium on them
 
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